Chart of the Day: Singapore bank loans up 0.9% in July

2 Sep 2020 - Singapore Business Review
This was driven by a 1.9% growth in business loans. This chart from Jefferies Equity Research shows that system rose 0.9% YoY in July, driven by a 1.9% growth in business loans. This was offset by consumer loans shrinking 2.4% YoY over the same period. Compared to May, system loans declined 1%, with ...
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Over 4 in 10 senior management roles in banks are Singaporeans: MAS

19 Aug 2020 - Singapore Business Review
The regulator assures that citizens are well-represented in local senior roles. About 43% of senior management roles in Singapore’s banking sector are made up of Singapore citizens, according to Monetary Authority of Singapore (MAS) managing director Ravi Menon. Singapore citizens also reportedly account ...
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MAS commits $250m to drive innovation, local talents in fintech

13 Aug 2020 - Singapore Business Review
The regulator plans to raise the maximum grant for AIDA project from $1m to $1.5m. The Monetary Authority of Singapore (MAS) has committed $250m over the next three years under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0) to accelerate technology and innovation-driven growth ...
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Daily Briefing: Travelling Singaporeans, PRs can tap subsidies; PPRO raises $68.45m

7 Aug 2020 - Singapore Business Review
And ride-hailing firm TADA raises US$5M led by Central. From ChannelNewsAsia: All Singaporeans, permanent residents and long-term pass holders who travel abroad under permitted travel arrangements with certain countries will be able to tap regular healthcare financing for their medical bills should they ...
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MAS revokes licence of Apical Asset Management due to serious breaches of law

29 Jul 2020 - Singapore Business Review
The regulator also reprimanded the firm's CEO and director Yeh Yin Yee and Bernard Cheok Yin. The Monetary Authority of Singapore (MAS) revoked the capital markets services (CMS) licence of Apical Asset Management (AAMPL) after finding serious breaches of MAS’ Anti-Money Laundering/ Contering Financing ...
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Singapore is top pick of financial firms planning to leave Hong Kong: report

29 Jul 2020 - Singapore Business Review
Tokyo, Sydney, Taiwan, and South Korea are vying to benefit from Hong Kong's woes. Singapore is set to be the biggest winner in the possible exodus of banks and asset managers in Hong Kong that are worried about the new security law imposed by China, reports Reuters. Whilst Japan, Australia and some ...
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SIA secures $750m in loans on aircrafts

23 Jul 2020 - Singapore Business Review
It now secures $1.65b from its secured financing since the start of FY2020. Singapore Airlines (SIA) has raised $750m in long-term loans on some of its Airbus A350-900 and Boeing 787-10 aircraft, an announcement revealed. Upon completion of these deals, SIA now secures $1.65b from its secured financing ...
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Insolvency, Restructuring and Dissolution Act to commence on 30 July

23 Jul 2020 - Singapore Business Review
It establishes a new licensing and regulatory regime for insolvency practitioners. The Insolvency, Restructuring and Dissolution Act, together with its 48 related pieces of subsidiary legislation, will take effect on 30 July, the Ministry of Law (MinLaw) announced. The Act is an omnibus legislation that ...
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Razer's digital bank proposition aims to dazzle the global youth

22 Jul 2020 - Singapore Business Review
The consortium is going big with its dream of meeting the underserved youth’s financial needs globally. In a sea of digital bank license applicants targeting small and medium enterprises (SMEs), Razer Fintech’s virtual-only bank proposition is looking ahead to the future with its aim to service the millennial ...
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MAS proposes enhanced powers to address financial risks

21 Jul 2020 - Singapore Business Review
The regulator plans to require licenses to any person in Singapore issuing digital tokens. The Monetary Authority of Singapore has issued a consultation paper proposing enhanced powers to address financial sector risks, such as issuing prohibition orders, expanding regulations on digital token issuers, ...
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